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Business Rates - are you due a refund?

Adrian Mooy - Monday, August 22, 2016

If your business only uses one property and that property has a rateable value of less than £12,000, you may be due a Business Rates refund if you have
not already claimed small business rate relief.

You may also be eligible for a refund if you have taken on new premises in the past year, or if each of your business’s other properties has a rateable
value of less than £2,600.

Until 31 March 2017, Small Business Rate Relief of 100 percent applies to properties with a rateable value of £6,000 or less. In other words, you do not
have to pay business rates on properties that meet these criteria.

For properties with a rateable value between £6,001 and £12,000, gradually decreasing rates of relief apply, ranging from 100 to 0 per cent of the business
rates normally owing.

Additionally, if your business’s property has a rateable value of between £12,001 and £18,000 your Business Rates should be calculated using the small
business multiplier and not the higher standard multiplier.